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BABA-W's Turkish E-commerce Company Trendyol Reportedly Mulls to Raise US$1B
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BABA-W (09988.HK)'s Turkish e-commerce company Trendyol is considering raising about US$1 billion, according to hearsay. Trendyol is informally soliciting interest from potential investors for a new round of funding, which could start as early as next quarter, people familiar with the matter said. The plan is said to be at an early stage and may not be proceeded, report revealed. Trendyol declined to comment, while Alibaba has not given any response. Trendyol's last round of funding was in 2021, led by Softbank Group and General Atlantic, with participation from Middle East sovereign wealth funds and Princeville Capital, which raised US$1.5 billion, valuing Trendyol at US$16.5 billion. AAStocks Financial News |
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